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Inflation. You include the cost of financing, and the sales price . We convert ownership into a red and thence to third of homes are owned. Lisas only turnover once a year. You look at market rents and was happening with new lease signed leases is different than a year ago. We understand that in look through that and look at Housing Services is one of the important categories. Thank you for that. In the line of affordability and housing, to the broad Monetary Policy in the state of our economy and unique to california and i raise this with secretary gatlin when she was here as well. The insurance gaps that are presenting themselves due to the impact of Climate Change. One in five residents live in areas that risk flooding and we are seeing more and more insurance providers withdrawing from the state. You and i had tal ....
Yield. Thanks, mr. Chair. A chair brown senator tester f montana, is recognized. Thank yr being here, chair powell. We appreciate your work. Difficult situation. But i think you have done a really good job. Thank you for that. Look, success at the fed mandate for strong employment and stable prices is critical for smallsin. For farmers, ranchers, for montana families. You fall all the metrics. From perspective, where is the economy at . Now and where is it going . Chair powell healthy, sustainable pace. Thats the one thing. Second thing, the labor market is very strong and quite tights. 3 3. 7 unemployment for the last 24 months. Thats the longest period since 50 years. Third is inflation. Inflation was too high. Its come down sharply since the beginning of last year. The head line number has come down from the 5 down to 2. 4. The core number is at 2. 8. I think it was atear ago. These are big declines. We are in a very different place. A healthy place. We are going to use our tools to ....
5d we control from a regulatory or standpoint. In the longer term, companies are withdrawing from writing insurance in coastal 10 years from now how are we going to get hazard insurance . Maybe the government will step in, but its a continuing issue. Senator brown senator advance of ohio senator vance ised. Thank you for being here. These hearings are important and have an opportunity to provide over what is going on in the fevered that affects our constituents. I wanted torm focusn basal3 and there have been various proposals that draw them down to banks and go back to one of the most significant crisis in our Banking Sector and the u. S. Spoke in private and i believe in public, but one of the concerns i have when we about Capital Requirements on the banks and there is maybe an argument that they would bought longterm treasuries and even treasury bond risk and would h ....
This is what democracy looks like. Cspan, powered by cable. Jerome powell testified on Interest Rates inflation before the banking committee. They talk about Bank Requirements and immigration and Digital Currency after his remarks. This is nearly 2 1 2 hours. Thank you, the Housing Affairs committee will come to order. General powell, after your Opening Statement and you want to give it again, you can certainly do that. The fed has immense power in shaping the economy, your report is clear, stable prices and employment. The cost of living is too expensive for americans. The fed has one tool to fight the hi p rates. That tool does nothing to takes the real cause. Corporations price gouging to boost prof ....